Michelle Clancy | 29-08-2013
TiVo posted a second-quarter profit of $268.9 million, surprising analysts by beating guidance of a compared to guidance of a net loss of $13 million to $16 million.
The company gained wings from legal settlements from patent disputes over the use of its DVR technology: the net income of $1.96 a share included $490 million from lawsuits with Cisco Systems and Motorola Mobility.
The results compare with a loss of $27.7 million a year earlier and signal a vault into profitability for the company, which said that it expects "sustained profitability" going forward through at least the end of 2014.
TiVo has won about $1.6 billion from lawsuits so far, and said that it plans licensing revenue to increase as time goes on.
The results weren't all about licensing though: sales gained 53% in the quarter, to reach $100.1 million, beating the $86.4 million average of analysts' estimates.